Colliers: Land Price will Rise in Central Part of Tbilisi

January 18, 20181,045 Views

Land price will rise in the central part of Tbilisi, Irakli Kilauridze, director general of Colliers International Georgia, noted. Cities grow in size and they are developed in Georgia, however, this process is mainly emphasized in the capital city, Irakli Kilauridze said.

“Urbanization level gradually grows and this is inevitable process. Currently, we have a very low level of urbanization, about 55% and we have to increase this indicator to 75%.

As to growing size of cities, I believe a main accent will be made on Tbilisi and the capital city will be expanded and grow more. Therefore, development of outskirts will become relevant. It should be noted that today there is a deficit of good development lands, especially in central parts and this signifies land prices will further rise in this part. This tendency will be continued’, the company director general noted.